I've been following Bitcoin's journey to 100K, and I've got some food for thought. I'm not here to spread FUD, just sharing some observations.
Bitcoin's inability to reach $100,000 may indicate a cooling down of the hype cycle. Remember, prices are influenced by market sentiment, and a drop in excitement can lead to a decrease in demand. Less demand means lower prices, which could be bad news for Bitcoin.
Bitcoin's value is largely based on its utility and acceptance. If it doesn't reach the $100,000 mark, it might struggle to gain mainstream acceptance. This could limit its use cases, leading to a decrease in demand and, consequently, a drop in price.
Lastly, let's not forget Altcoins. If investors start shifting towards these alternatives, Bitcoin's price could take a hit.
Where do you think BTC will be at the end of the year?
